The following are recent financial reports as posted by selected Utah corporations:
Clene
Clene Inc., based in Salt Lake City, reported a net loss of $39.4 million, or $5.67 per share, for the fiscal year ended Dec. 31. That compares with a net loss of $49.5 million, or $9.43 per share, for 2023.
Revenue in 2024 totaled $342,000, down from $654,000 in 2023.
Clene and its wholly owned subsidiary, Clene Nanomedicine Inc., is a biopharmaceutical company focused on revolutionizing the treatment of neurodegenerative diseases, including amyotrophic lateral sclerosis and multiple sclerosis. Among the treatments are CNM-Au8, which aims to restore neuronal health and function by increasing energy production and utilization.“We expect further regulatory guidance in 2025 on the critical next steps required to advance our CNM-Au8 NDA submission for the treatment of ALS under the accelerated approval pathway,” Rob Etherington, president and CEO, said in announcing the results.
Security National Financial
Security National Financial Corp., based in Salt Lake City, reported after-tax earnings from operations of $26.5 million, or $1.11 per share, for the fiscal year ended Dec. 31. That compares with $14.5 million, or 61 cents per share, in 2023.
Revenues in 2024 totaled $334.5 million, up from $318.5 million in 2023.
SNFC has three business segments: life insurance, cemeteries/mortuaries and mortgages.
“2024 marked another year of solid progress for our company,” Scott Quist, chairman of the board, president and CEO, said in announcing the results. “Our life insurance segment had its best operational year ever, delivering a 25 percent improvement over 2023, which was its previous best year ever. … 2024 was our cemetery and mortuary segment’s best year ever, improving 5 percent over 2023, which was its previous best year ever.” The mortgage segment “delivered a solid performance,” decreasing its loss by over $11 million (64 percent) while increasing its revenue by over 8 percent, Quist said.
“Lastly, I will say that any year that we as a total organization improve our before-tax income by over 100 percent is a very good year.”